Compass Group PLC (CMPGF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to our 2025 half year results. We've delivered another strong first half performance. A double digit increase in profit was driven by 8.5% organic revenue growth and further margin progress. And in line with our algorithm, we're continuing to achieve profit growth ahead of revenue growth. Importantly, net new business was 4.4%, within our 4-5% target range for the fourth year running now. Our client retention rate continues to be strong, at above 96%, and the outsourcing market remains buoyant, with 45% of new business wins now coming from first-time outsourcing. We are investing for growth and have acquired attractive businesses to help expand our addressable market through further subsectorization. Following the reshaping of our portfolio, we're now an even more focused business. Our diverse sector portfolio, wide-ranging client base, flexible operating models, and significant local purchasing scale all provide the business with significant resilience. We have flexibility to mitigate macroeconomic challenges, and we're well-placed to capitalize on any increased outsourcing opportunities that may arise. I'll come back with more details on how we're successfully executing our strategy later. But first, over to Petros to give you more details on the financials. Thanks, Dominic. Good morning, everyone. We've made great progress across our key metrics in the first half, delivering another strong financial performance. We were pleased to deliver double-digit growth in operating profit and earnings per share. Let's start by looking at the components of revenue growth. Mobilized net new business continues to be excellent and in the middle of our 4-5% target range. Like for likes remains strong at around 4%, with pricing and volumes normalizing as e...